Finance Policy

This Policy can also be downloaded here: PDF

1. Introduction

1.  1st Linslade Scout Group has a management committee (known as the Group Executive Committee or GEC) which is elected each year at the Group’s annual general meeting. The GEC (who are the Group’s trustees) has overall responsibility for ensuring that the Group is well managed and that all Group income is managed properly and put to best use;

2. The Treasurer, acting on behalf of the other Group Executive members, has overall operational responsibility for the governance and maintenance of Group finances.

3. Financial records are kept so that the Group can:

a. meet its legal and other obligations, regarding the Policy, Organisation & Rules (POR), of The Scout Association, the Charities Act (1992), HMRC and common law.

b. enable the trustees to be in proper financial control of the Group.

c. enable the Group to meet any obligations and requirements of any funders should there be any.

4. The GEC will ensure that appropriate financial records are kept, including:

a. an account book or computer printouts recording all the transactions in the Group’s bank account(s). The Trustees agreed to use a web-based accounting package (which supports financial management and reporting) from April 2018.

b. bank statements or building society passbook

c. a petty cash book (if we make cash payments)

d. details of all funds received

e. invoices and other receipts for all payments

5. Our financial year ends on 31 March.

6. We will draw up accounts at the end of the financial year and have them examined by a suitable person who is independent of the Our annual end of year accounts will be reviewed by the executive committee and then recommended to the Group’s annual general meeting for approval.

7. Before the start of the financial year, we will set a budget for the following year which will be approved by the executive committee.

8. We will discuss a financial report at each GEC meeting showing income and expenditure against budget, an explanation of key variances and recommended actions and current bank balances. This will be a written report and will provide the Trustees with enough information to make good When possible, it will also show expected/forecast future receipts and payments.

2. Bank Accounts

a) We have a current account with Barclays, Leicester, LE87 2BB.

b) All bank transactions will go through our current If we pay money into any other account, it will be as a transfer from the current account.

c) Up to two members of the GEC are signatories to the accounts and this must include the Treasurer. The bank mandate lists the people who can sign payments. Changes to the bank mandate will be approved by the Trustees and minuted.

d) Any withdrawals or transfers between accounts are signed or digitally authorised via online banking by two of the signatories one of whom will be treasurer.

e) The bank provides monthly statements every month and we reconcile the statements against our account book / online account.

3. Income

a) If we receive cash we issue a receipt and keep a Leaders are advised to avoid accepting cash payments from members where possible.

b) Where we receive cash from the public at fundraising events two members of the Group will count up the cash, make a note of the total and sign for it.

c) When the treasurer collects cash from a Group member, the treasurer issues a receipt.

d) Details of cash received will be entered appropriately in the cash book.

e) We bank all cash received – we do not use it for cash payme Cash over £100 is banked within a week.

f) We record details of cheques received in the account book and bank the cheques within two weeks.

g) The treasurer keeps files of paperwork (either in paper or electronic form) relating to the cheques (e.g. grant award letters or copies of receipts issued by the Group).

h) All fundraising and grant applications undertaken on behalf of the Group are done in the name of 1st Linslade Scout Group with the prior approval of the GEC or in urgent the approval of the Group scout leader and Group chair who will provide full details to the next meeting of the Group executive committee.

4. Expenditure: Buying goods and services

a) Wherever possible, the GEC agrees orders in This will be either shown in the annual budget or discussed at a meeting during the year (and minuted).

b) The levels for authorising payments from the Group’s current account are included in Table 1 below.

c) The latest approved budget provides the signatories with authority to spend up to the budgeted expenditure and not beyond it. Payments over £101, which are not included in the annual budget, will be reported at the next GEC meeting.

d) The Treasurer keeps a file of all the paperwork and checks invoices before making payments.

e) Every payment out of the Group’s bank accounts will be evidenced by an original paper or electronic invoice (never against a supplier’s statement or final demand), or an expenses claims form with receipts.

f) The original invoice or claims form and receipts will be retained by the treasurer and filed The payment signatories should ensure that the paperwork is referenced with:

  • Cheque number
  • Date cheque drawn
  • Amount of cheque
  • Who signed the cheque.

The only exceptions to cheques not being supported by an original invoice would be for such items as advanced booking fees or deposit for a venue etc. Here a cheque requisition form will be used and a photocopy of the cheque kept. When making electronic payments a clear payment reference must be used so that invoices can be reconciled.

g) The treasurer will write details of all cheque payments in the account

h) Our cheque book(s) (unused and partly used) is kept under lock and key.

i) We will not sign a cheque without paperwork to support the pay.

j) We will never sign a blank cheque. The relevant payee’s name will always be inserted on the cheque before signature and the cheque stubs will be properly completed at the time of payment.

k) Two signatories are required on each cheque or electronic payment.

l) Two signatories are required to set up a direct debit or standing orders one of whom will be the tr

m) We keep records of direct debit and standing orders as for cheque paymen

n) Cash point cards are not used for the Group account and if issued by the bank they will be immediately cut up and disposed of appropriately. Cash point cards are permitted to be used by Section Leaders.

Table 1 Authorisation Levels

Amount Signature Requirements Authorisation

(if not previously approved in the annual budget)



Supporting Documents
Up to £100 Treasurer and GSL Treasurer and GSL Invoice or expenses claim with receipts
£101 to £500 Treasurer plus GSL or Chair Group Executive Committee



Treasurer, GSL, Chair and Secretary

Invoice or expenses claim with receipts

Over £501


Treasurer plus GSL or Chair

Group Executive Committee


Invoice or expenses claim with receipts

5. Sections

a) Sections operate their own bank accounts in accordance with the guidance in this policy. They receive a payment from the Group Account at the start of every term for general scouting activities. The GEC sets the level of payment when setting the annual budget. Sections may request additional payments which will be considered in accordance with the authorisation limits in Table 1.

b) The Treasurer undertakes a termly overview and a detailed reconciliation at the year end.

6. Petty cash

a) We do not hold petty cash but if we did, the following would apply:

b) We would hold a petty cash float separate from incoming cash.

c) Petty cash payments would not be made before we have entered the full amount of incoming cash into the petty cash book.

d) We would record all payments on separate petty cash slips and keep documentation which will be presented to the treasurer at each GEC meeti

7. Membership Fees

a) Membership fees are paid monthly by standing order monthly (12 payments per year) or annually by cheque, in advance.

b) Membership fees are set by the GEC and are reviewed as required by the needs of the Group.

c) Membership fees for the child (ren) of Section Leaders (SL), Assistant Section Leaders (ASL) and Section Assistants (SA) may be discounted at a rate determined by the GEC as an incentive to encourage more volunteers. On the advice of the Scout Association, this should not stop a SL, ASL or SA serving as a Trustee although their interest must be declared and minuted and they should not take part in any discussion concerning the level of discount.

d) Gift Aid is claimed wherever possible.

8. Participation Fund

a) A small amount of money is set aside for when any members or members’ families are experiencing financial challenges. The aim of the fund is to help ensure that no Young People, whose families are suffering financial challenges, lose out from Scouting activities. It is intended to enable Young People in a situation where funds are tight.

b The fund is explicitly to cover challenges in paying for Scouting equipment or activities, for example, it might be used for:

  • One-off uniform purchase/contribution.
  • Allow the Young person to attend a specific event.
  • A small reduction in subscription payments for a period

c) In return parents / carers may be asked to volunteer some time to assist the Group.

d) Group members (or their parents on their behalf) are asked to contact the GEC to discreetly consider the request.

9. Expenses

a) The Group does not expect a volunteer uniformed Leader or supporter of the Group to be out of pocket as a result of providing purchased items or services for the genuine and direct benefit of the Group and its young people or as required by the Scout Association. All such expenses will be reimbursed against receipts.

b) In order to maintain financial control, all expenses (except petty cash items) should be approved by the Group Scout Leader or the Group Chair, as appropriate.

10. Camps, activities and excursions

a) Camps, Beaver sleepovers and other residential experiences should cover its costs including an allowance for wear and tear.

b) Outings, excursions and expeditions should break even financially. In some circumstances, the GEC may approve a subsidy in advance.

c) Some activities may be entirely funded by the Group (such as District organised competitions and outings).

d It is the responsibility of the Leader in charge of the event to ensure that it is properly budgeted and financed (including subsidy approvals) and that all required monies are collected prior to departure.

11. Supporting Adult Volunteers

a) The Group shall encourage adults to apply for a full uniform Leadership Appointment and will provide the necessary financial support.

b) The Group shall pay the annual Scout Association Membership fee (as charged by Leighton – Linslade Scout District) where appropriate.

c) The Group shall fund training as specified by the Scout Association and will seek reimbursement from the District, County or Scout Headquarters if available.

d) The Group shall ensure that each adult Leader holding or applying for a Scout Association Leader Appointment has a full and proper uniform. The Group, as a one-time payment, shall reimburse the cost of:

  • One uniform “dress” shirt or blouse (long or short sleeve)
  • One adult Group scarf and/or regulation tie (as appropriate)

12. Fixed Assets

a) The Group will adhere to good practice in relation to its finances at all times, eg. when relevant we will set up and maintain a fixed asset register stating the date of purchase, cost, serial numbers and normal location.

13. Reserves Policy

a) Our Group, like most charities, hold some funds in Our level of reserves is set to ensure that there is sufficient resources to continue the core charitable activities of the Group should income and fundraising activities fall short.

b) The Group executive committee considers that the Group should hold a sum equivalent to 6 months running Should the level of reserves falls below the target level, the Group executive committee will make efforts to restore the level as soon as possible.

14. Partnerships

a) The Group reserves the right to apply reasonable fees or charges to Parkers Pioneers Explorer Unit (for example, to cover the use of the hall) to be agreed from time to time by the Executive Committee.

15. Investment Policy

a) Currently the Group does not have sufficient funds to invest in longer term investments. The Group has therefore adopted a low risk strategy to the investment of its funds which are held in the Group account with Barclays.

b) The Group executive committee regularly monitors the levels of bank balances and the interest rates received to ensure the Group obtains maximum value and income from its banking arrangements. Occasionally this may involve using an account that requires a period of notice before funds may be withdrawn, before doing so the Group executive committee considers the cash flow requirements.


Document History

This version approved 23/4/18

Review November 2020